Royalty Donation Procedure
Royalty Donation Steps:
(1) OTT sends Creator Royalty Check.
(2) Creator has 60 days from date check is sent to make a donation decision and complete the Donation Procedure as outlined below.
(3) Creator donates their share to the University Development Office, designating which department and/or lab is to receive the funds. Cindy Wentworth in the University Development Office will facilitate this process, and is available at (502) 852-7035.
(4) The University Development Office will issue a donation letter back to the Creator for tax purposes.
(5) The Creator will work with the UBM of the Department and/or Lab receiving the donated funds to set up a Research Account.
(6) The Creator or the UBM will communicate to the OTT the amount of the Royalty that was donated, and provide the account number(s) so OTT can transfer the matching funds.
(7) The OTT will then arrange for the EVPRI UBM to put an additional percentage of the total Royalty Revenue back into those designated research account(s) until the matching amount cap is reached. Departments and Colleges/Units will not receive any share in the case of royalty donation.